Judge OKs Bankrupt Telecom Co.'s $36M Verizon Settlement

Law360, Los Angeles (January 29, 2013, 3:50 PM ET) -- A New York federal judge on Monday approved a $36.2 million settlement between Global NAPs Inc. and Verizon New England Inc. in a dispute over unpaid fees, rejecting the former head of Global NAPs' objection that the deal unfairly forfeited the bankrupt telecommunications company's $45 million counterclaims.

Under the deal struck in August, Verizon will reduce a judgment it won against Global NAPs by $21.5 million, from $57.7 million to $36.2 million. Verizon also agreed to reduce its judgment against Global NAPs by an amount equal...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers


Case Information

Case Title

Global NAPs, Inc. v. Verizon New England, et al

Case Number




Nature of Suit

Other Statutory Actions


Rya W. Zobel

Date Filed

December 30, 2002


Law Firms Mentioned